
Cheap Apartments for Rent in the Thirty-Eighth & Shadeland Neighborhood of Indianapolis, IN from $400 (19 Rentals)
Search the lowest-cost Apartments available for rent right now in the Thirty-Eighth & Shadeland area of Indianapolis.


Franklin Studios

Autumn Trails Apartments

5959 E 24th St

Olivewood

Greenway Apartments
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

Frederick Square

Kingston Square Apartments

Canterbury House Apartments - Franklin Road

Emerson Place

Lakes at Crossbridge

3825 N Whittier Pl
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

Peppermill Farms

East Ridge

Sunstone at Arlington Woods

Maison Gardens

5959 E 24th St

Trenton House Apartments
Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods
Discover the heart of the Midwest! Learn about popular Indianapolis neighborhoods to rent like Speedway and Eagledale, plus top universities and can't-miss places to eat.

6005 Dickson Rd
Thirty-Eighth & Shadeland, Indianapolis, IN Local Guide

How much does it cost to rent an apartment in Thirty-Eighth & Shadeland?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Thirty-Eighth & Shadeland Studio Apartments | $766 | $725 | $829 |
| Thirty-Eighth & Shadeland 1 Bedroom Apartments | $894 | $720 | $1,150 |
| Thirty-Eighth & Shadeland 2 Bedroom Apartments | $1,092 | $822 | $1,658 |
| Thirty-Eighth & Shadeland 3 Bedroom Apartments | $1,867 | $925 | $7,097 |
| Thirty-Eighth & Shadeland 4 Bedroom Apartments | $1,487 | $975 | $1,850 |
Browse Apartments in this Neighborhood
There are currently 19 rentals with your search options within a 2 mile radius of the Thirty-Eighth & Shadeland Neighborhood of Indianapolis, IN.
See all Apartments in IndianapolisExplore Indianapolis
Thirty-Eighth & Shadeland, Indianapolis, IN Local Guide
- Nearby Indianapolis neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Thirty-Eighth & Shadeland Apartments for Rent
 The cheapest available apartment rental in the Thirty-Eighth & Shadeland area of Indianapolis, IN is a Studio unit found at Franklin Studios priced from $725. Autumn Trails Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $749. Here are the most affordable Thirty-Eighth & Shadeland apartments for rent in Indianapolis, IN:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Franklin Studios | Studio | Studio,1BA | $725 |
| Autumn Trails Apartments | The Maple | Studio,1BA | $749 |
| Olivewood | Studio | Studio,1BA | $780 |
| Greenway Apartments | Greenway 1 bedroom | 1BR,1BA | $795 |
| Frederick Square | Frederick Square 1 bedroom | 1BR,1BA | $795 |
Best Value Apartments for Rent in Thirty-Eighth & Shadeland, IN
As of February 04, 2026 the best value apartment in the Thirty-Eighth & Shadeland area is the $1.07 price per square foot 2 BR / 1.5 BA Model at Shadeland Terrace Townhomes w/Full Basements in the in the Southeast Indianapolis neighborhood starting from $1,395. The second greatest value Thirty-Eighth & Shadeland apartment is the The Estate - Two Bedroom 1.5 Bath Model at Paragon Park starting at $1,219 with a $1.00 price per square foot in the Southeast Indianapolis neighborhood. Here is today’s list of the best values for Thirty-Eighth & Shadeland apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Shadeland Terrace Townhomes w/Full Basements | 2 BR / 1.5 BA | 2BR,1.5BA | $1.07 |
| Paragon Park | The Estate - Two Bedroom 1.5 Bath | 2BR,1.5BA | $1.00 |
| Brookhaven Apartments | 2 Bed 1 Bath | 2BR,1BA | $0.91 |
| 60 - ADDISON APARTMENTS | 2nd Floor Standard + W/D Hookups | 2BR,1BA | $0.95 |
| Apartments @ Marten Court | 2x1 with washer/dryer | 2BR,1BA | $1.23 |
| Park Forest Apartments | 2BR/1BA | 2BR,1BA | $1.27 |
| Lawrence Landing | One Bedroom | 1BR,1BA | $1.12 |
| Frederick Square | Frederick Square 1 bedroom | 1BR,1BA | $1.14 |
| Indy Town Apartments | Greenway 1 bedroom | 1BR,1BA | $1.20 |
| Greenway Apartments | Greenway 1 bedroom | 1BR,1BA | $1.20 |
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
Read ArticleYour Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters
Learn About the Best Neighborhoods to Rent Near College Campuses in Indianapolis, IN | Find Charlotte Indianapolis Student Housing at ApartmentHomeLiving.com
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
Pet Friendly LifestyleThirty-Eighth & Shadeland, Indianapolis, IN
Ranked #181
Among cities in Indiana for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.0Pet Friendly
Frequently Asked Questions about Cheap Thirty-Eighth & Shadeland Apartments
What is a cheap apartment in Thirty-Eighth & Shadeland?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Thirty-Eighth & Shadeland is under $925.
What is the price of a cheap apartment in Thirty-Eighth & Shadeland?
The cheapest apartment in Thirty-Eighth & Shadeland is Frederick Square which is listed at $795, while the average apartment in Thirty-Eighth & Shadeland costs $1,636.
What types of apartments are the cheapest in Thirty-Eighth & Shadeland?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 10 regular apartments in Thirty-Eighth & Shadeland that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Thirty-Eighth & Shadeland?
Cheap apartments in Thirty-Eighth & Shadeland have an average cost of $470 which is $1,166 cheaper than the average rent for all rentals in Thirty-Eighth & Shadeland.
Expert Rental Resources
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
Helpful Local Expert Guides

A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis
Written by: Wendy Melton
Indianapolis is not only the state capital of Indiana, it’s also a shining example of what Midwestern living is all about. I’m Wendy, your ApartmentHomeLiving.

Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters
Written by: Wendy Melton
Indianapolis is well-known for being one of the top college cities in the country. Local colleges and universities are ranked in the Top 10 when it comes to sports and academic excellence.

Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods
Written by: Wendy Melton
My name is Wendy, and I've lived in Indiana for most of my life. Indianapolis is our state capital, and many people consider it the heart of the Midwest. People come from all around to explore everything Indianapolis has to offer.
Articles, How-To's, and Tips

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.